This Week: The median list price in Northwest Seattle is $716,975 is down from last week’s $734,000. Inventory has been lightening lately and the Market Action Index (see MAI chart below) has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
Supply and Demand
The market remains in a relative stasis in terms of sales to inventory and prices have been relatively stable for a few weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Localized real estate market reports are great for getting a “feel” of what that specific market is doing.Localized real estate market reports are great for getting a “feel” of what that specific market is doing. For a more accurate pricing on residential property a Competitive Market Analysis (CMA) needs to be done comparing your home with current sales. With all of the current news regarding the real estate market in the Puget Sound area it is still a market filled with some headwinds and uncertainties.
Home sellers must continue to must continue to look at all the above factors when evaluating offers on their property. The above graphs for the Northwest Seattle real estate market will show recent trends on a micro level in Northwest Seattle that will in a large part reflect the prices buyers and sellers are willing to pay and receive for real estate in the area. Northwest Seattle home and lifestyle search.
Northwest Seattle Median Prices vs. all of Seattle Living in Northwest Seattle
The Northwest corner of Seattle has some of the very best views of Puget Sound and the Olympic Mountains and amazing sunsets. Homes listed for sale in four communities within the 98177 zip code are Blue Ridge, Broadview, and the The Highlands, Innis Arden and Richmond Beach. Physically the Northwest Seattle region looks lake a destination area, with it’s western border being Puget Sound these neighborhoods with the Northwest region take-on a destination feel to them. Which lends itself to the attractiveness and popularity of this region in Seattle.
The northwest area is filled with public parks that are great for day hiking, picnics and field trips for the kids. Receive FREE WEEKLY UPDATES on the latest Northwest Seattle real estate market
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For a more accurate pricing on residential property a Competitive Market Analysis (CMA) needs to be done comparing your home with current properties that have sold recently in your neighborhood.
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